"Scotiabank concludes $2bn stake acquisition in KeyCorp" was originally created and published by Retail Banker International, a GlobalData owned brand.

The Bank of Nova Scotia (Scotiabank) has completed its purchase of KeyCorp’s common stock with an investment of approximately $2 billion, as expected. With this investment, Scotiabank now owns approximately 14.

The Bank of Nova Scotia (Scotiabank) has finalized its $2 billion investment in KeyCorp, acquiring approximately 14.9% of the U.S.-based bank’s common stock.

TORONTO — Bank of Nova Scotia says it has closed its two-part deal to buy a 14.9 per cent stake in U.S. bank KeyCorp for about US$2.8 billion. It says it closed the second part of the deal, buying a 10 per cent share, following approval from the board of governor s of the U.S. Federal Reserve System.

Scotiabank has secured the approval from the Board of Governors of the US Federal Reserve System to proceed with its second phase of investment for an additional 10% of KeyCorp. This move will increase Scotiabank’s stake in US regional lender KeyCorp to 14.

Scotiabank says it closed the second part of the deal, buying a 10 per cent share, following approval from the board of governors of the U.S. Federal Reserve System.

Scotiabank says it has closed its two-part deal to buy a 14.9 per cent stake in U.S. bank KeyCorp for about US$2.8 billion.